China Is Hiding Key Data To Pretend Its Economy Is Doing Ok. It's Not.

Beijing has stopped reporting unflattering economic data.Kevin Frayer/Getty Images China is hiding unflattering data, with its economy struggling. The National Bureau of Statistics didn't report youth unemployment numbers this month. Beijing also told economists not to discuss deflation or faltering growth, per the Financial Times. China's latest strategy for boosting its struggling economy: hide the unflattering data, and pretend everything's OK.The National Bureau of Statistics said Tuesday it would stop releasing youth unemployment numbers, after joblessness among 16-to-24 year olds spiked to 21% in June.It cited the need for "further optimization" of its metrics – but it's more likely that Beijing decided not to report the latest data in a bid to shut down the idea that the world's second-largest economy is struggling.Earlier this year, former Treasury official Brad Setser questioned whether China was accurately disclosing its foreign currency holdings.

 

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